Blind spots
When you are looking for an empty table in a restaurant, you apply a different filter than when you are looking for a friend who is already there waiting for you. Chances are that you will even overlook familiar faces when focusing on the empty seats.
Investors apply different filters in the due diligence process, one after another in a systematic way. We may build a financial model, price the assets, assess the management, look at environmental liabilities, etc. A large part of this exercise is about downside protection. Your favorite holding period